JSE opens flat as market eyes Cyril Ramaphosa’s state of the nation address
The JSE opened flat on Friday after Thursday’s surge, as the market eyed the state of the nation address by newly elected President Cyril Ramaphosa later in the day. "With the Presidency saga now being something of the past, the focus has turned to the budget and Moody’s credit rating assessment," said TreasuryOne dealer Gerard van der Westhuizen. Industrials were up on a firmer rand, along with gold and platinum stocks. The property index was under pressure. Despite strong demand for some property stocks, shares in the Resilient stable came under renewed selling pressure. Some profit-taking was evident among general retailers and banks. The Dow closed 1.23% higher at 25,200.37 points on Thursday, the fifth successive positive close for the industrial average. Chinese markets were closed for the new year holiday, but the Nikkei rose 1.19%. At 9.41am the all share was 0.04% up at 59,554.10 points and the top 40 added 0.03%. Industrials added 0.4% and the gold index 0.27%. Food and dr...
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